A good time to buy
IT’S a good time to buy property in County Wicklow. And the good news for sellers is that with the banks now looking more favourably towards those wanting mortgages, there is a backlog of would-be purchasers. After years in the doldrums, prices have stabilised and auctioneers say they are definitely heading into positive territory.
The numbers of auctions being held has increased over the past year and for the first time since the crash some properties are exceeding their auction estimates.
Brian Clarke, from Clarke Auctioneers, in Ashford, said the market was buoyant.
‘There’s a huge amount of interest with a lot of viewings and lots of transactions,’ he said.
‘There are quite a few decent properties around and there is demand for more.’
Mr. Clarke said prices are increasing too, not as much as it parts of Dublin, but they are on the up.
He said that compared to a year ago prices had risen between five and 10 per cent, with room for more growth this year.
‘It’s purely demand driven - there is huge demand from first time buyers for properties, three-bed semis, good quality properties in good locations,’ he said, adding that was driving demand for family homes too.
‘There is huge demand for good qauliity family homes too. There is a serious lack of good quality family homes on the market.,’ said Mr. Clarke.
‘The market is only going to increase. We’ve definitely reached the bottom now is a good time to buy or to put your property on the market.
‘We coming from three or four years when people couldn’t get their hands on properties because of the banking crisis.. now that’s changed and we have a backlog of purchasers,’ he said.
The message from Sherry Fitzgerald Myles Doyle is clear: ‘Anybody interested in getting into the property market in South County Wicklow, take the plunge now, do not dally, tardiness will cost you.
‘Activity levels are multiples of those in 2013, and the results are astounding. Increased viewings will automatically lead to increased levels of sales, which we have seen throughout the first quarter of 2014.’
James Wood, from Dublin-based Auctioneers GVA Donal O’Buachalla, said there was value to be had in Wicklow for people looking for land or a good home.
‘Wicklow town and county is popular and people in Dublin are starting again to venture out to places like Bray and Greystones and further out,’ he said. ‘There is a feeling that they might get better value for money and we’re getting a lot of inquiries - particularly for where they might get more value for money.
Mr. Wood said certain areas of Bray and Gresystones were per ceived as being particularly desirable but the ever improving transport links along the N11 and M11 meant that areas further out of the capital were considered commutable.
‘We’re quite well connected now with the motorway and it’s getting better all the time.’
‘In a nutshell, we’re doing better than we were a year ago in both sales and the prices being achieved and long may it continue,’ said Mr. Wood.
Pat O’Neill, from O’Neill and Flanagan, which has offices in Aughrim and Rathdrum, said that had been an increase in demand for houses in the area since November.
‘Prices have defintely bottomed out and there seems to be more viewings, which is a good sign , and I’ve had a more pisitive feedback friom the lendnig Agencies,’ he said.
‘They are in a position now to deal with people seeking a mortgage and that’s resulting in a definite rise.’
Mr. O’Neill said that there was strong demand for houses in the region of €200,000 and there was also an increase in viewings for bigger properties too, although movement in those costing more than €300,000 was not as strong.
‘There is a slightly stronger demand in Dublin now and I’m getting a lot more inquries.’
Mr. O’Neill said that because of planning restrictions and the value to be had in houses that were already built, sites were not a popular option.
‘You can buy a house cheaper than you can buy land, a house in the country of 2,000 sq.fet for aroud €250,000 and that shows-what value is to be had,’ he said.
Peter Mills, from Peter Mills Property in Arklow said the company had seen a significant increase in market activity in the first quarter of 2014 compared year on year to 2013.
‘This is fuelled by a stabilisation of property prices and an increase in mortgage approved buyers in the market place.
‘As a result of increased market activity we now have a shortage of property in the Arklow, particularly three and four bedroom family homes. As well as a shortage of property for sale there is a distinct lack of property to let which is leading to a small but noticeable increase in rent prices,’ said Mr. Mills.
Ciara Slattery, from Warren Estates in Gorey, was upbeat about the market, saying there were encouraging signs.
'There is great value at the moment and with the poor returns in deposit interest rates at the moment people are looking to property again. Once properties are priced realistically they are selling and selling well at the moment. Confidence is coming back and having hesitated for the last few years people are keen to buy again,’ she
Advertise with the newspaper with the biggest circulation
PEOPLE with property to sell would be well advised to place their homes with the very best auctioneers, those with a proven track record.
Similarly, make sure your house is advertised in premium newspaper titles, those with the biggest circulation and readership. In the case of County Wicklow, you can do no better than advertise in the Wicklow People and Bray People, and the Arklow and West Wicklow editions.
The titles have a combined readership of 66,000 and reach every town, village and townland in the Garden County.